TrustAtlantic Bank

TrustAtlantic Bank Receives Approval for New Raleigh Office

Raleigh, N.C.—January 29, 2008—TrustAtlantic Bank announced today that it has received regulatory approval for its new office to be located at 6511 Falls of Neuse Road in Raleigh, N.C. The office will be the bank?s first stand-alone branch office in Raleigh, and is expected to open in March of this year. The new location, which is currently undergoing significant renovations, will be situated less than one mile from the bank's current corporate headquarters at 6131 Falls of Neuse Road.

"This North Ridge branch office will serve as the backbone for our customer acquisition efforts in Raleigh," stated John Anthony, Executive Vice President and Chief Administrative Officer of TrustAtlantic Bank. "Although we plan to open several branch sites within the Raleigh-Cary area, we believe this new branch will demonstrate a unique retail flavor that will help differentiate us from our competitors. In addition to hiring the best talent we can find, we will also unveil an inviting and relaxed atmosphere that we expect our customers will truly enjoy."

Anthony also announced that the bank has recruited Mary Ann Freeman to serve as manager of the new office. Freeman is a veteran Raleigh banker with significant ties to the local market. She most recently worked as a retail manager for Wachovia Bank in Raleigh. While the doors will open in March, TrustAtlantic Bank is expecting to have a ribbon cutting and grand opening in early April to celebrate its new office. The office will feature a drive-thru teller lane, a 24-hour ATM machine, plus other full-service banking amenities.

About TrustAtlantic Bank:

Headquartered in Raleigh, North Carolina, TrustAtlantic Bank is the wholly owned subsidiary of TrustAtlantic Financial Corporation. The bank operates two banking offices in Greenville and one in Raleigh, and anticipates opening additional branch offices in the greater Raleigh-Cary metro area as well as Greenville in the coming years.